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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | CIPS Level 4 Diploma in Procurement and Supply โ L4M2 Defining Business Needs |
| Exam Number: | L4M2 |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Related Certifications: | CIPS Level 5 Advanced Diploma in Procurement and Supply CIPS Level 4 Diploma in Procurement and Supply |
| Certificate Validity Period: | No expiry (qualification does not expire once achieved) |
| Real Exam Qty: | 60 |
| Passing Score: | 70% |
| Available Languages: | English |
| Exam Duration: | 120 minutes |
| Recommended Training: | CIPS Official Study Resources CIPS Level 4 Learning Support |
| Exam Registration: | Pearson VUE CIPS Exams Booking CIPS Qualifications Registration |
| Sample Questions: | CIPS L4M2 Sample Questions |
| Exam Way: | Computer-based exam delivered via authorised test centres or remote proctoring (Pearson VUE) |
| Pre Condition: | No formal prerequisites required, but completion of CIPS Level 3 is recommended for progression into Level 4. |
| Official Syllabus URL: | https://www.cips.org/qualifications/ |
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CIPS L4M2 Exam is an essential exam for procurement professionals as it helps them to develop their procurement skills and knowledge, which are essential in today's dynamic business environment. L4M2 exam equips professionals with the necessary skills to identify and analyze business needs, which is crucial in developing effective procurement strategies. Additionally, the CIPS L4M2 Exam prepares professionals to work collaboratively with stakeholders to ensure that procurement processes align with the overall business objectives.
NEW QUESTION # 286
Why should procurement professionals develop business case before seeking approval to purchase capital equipment?
Answer: D
Explanation:
A business case is developed during the early stages of a project and outlines the why, what, how, and who necessary to decide if it is worthwhile continuing a project. One of the first things you need to know when starting a new project are the benefits of the proposed business change and how to communicate those benefits to the business.
Preparing the business case involves an assessment of:
- Business problem or opportunity
- Benefits
- Risk
- Costs including investment appraisal
- Technical solutions
- Timescale
- Impact on operations
- Organizational capability to deliver the project outcomes
These project issues are an important part of the business case. They express the problems with the current situation and demonstrate the benefits of the new business vision. Making business case with multiple options and choices also prompts the procurement and senior management to consider alternatives. As a result, the organisation may opt out the best option.
The business case brings together the benefits, disadvantages, costs, and risks of the current situa-tion and future vision so that executive management can decide if the project should go ahead.
NEW QUESTION # 287
SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?
Answer: C
NEW QUESTION # 288
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?
Answer: D
Explanation:
Copious amounts of waste can occur in the workplace, particularly in a manufacturing process, but do you know what the eight most commons wastes are and how they impact your organization?
Taiichi Ohno, considered the father of Toyota Production System, created a lean manufacturing framework, which was based on the idea of preserving (or increasing) value with less work. Any-thing that doesn't increase value in the eye of the customer must be considered waste, or "Muda", and every effort should be made to eliminate that waste. The following 8 lean manufacturing wastes, mostly derived from the TPS, have a universal application to businesses today. The acro-nym for the eight wastes is DOWNTIME. Downtime stands for:
- Defects
- Overproduction
- Waiting
- Not utilizing talent
- Transportation
- Inventory excess
- Motion waste
- Excess processing
OWN-IT is the acronym for the process of collecting and analysing the data and information needed in any field SCAMPER is acronym for options addressing the underlying issues and achieving target VA/VE is value analysis and value engineering LO 3, AC 3.4
NEW QUESTION # 289
Which of the following are typical social considerations throughout the contract life cycle? Select the TWO that apply.
Answer: C,E
Explanation:
The following are typical social criteria in procurement:
* Reducing unemployment
* Preventing the use of child labour
* Preventing discrimination on the grounds of race, religion, disability, sex or sexual orientation
* Encouraging good employment practice
* Reducing local unemployment
* Reducing social exclusion
* Promoting training opportunities for the young or disadvantaged
* Encouraging access to work for people with disabilities
NEW QUESTION # 290
The procurement team of an IT hardware manufacturer has been set a target by senior management to reduce the rates paid to the sole supplier of a new and innovative power-saving battery. Which action should the procurement team first consider?
Answer: B
Explanation:
Detailed Explanation:Dual or multiple sourcing introduces competition, reducing the sole supplier's bargaining power and leading to cost reductions. Framework agreements (A) or economies of scale (D) may not address the immediate need to reduce rates. Reference: CIPS Level 4, Sourcing Strategies.
NEW QUESTION # 291
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